Businesses Applying for Tax Breaks/Subsidies for Energy Improvements
Times are good for businesses looking to improve the energy efficiency of their operations. Today, there are more incentives and tax breaks available for energy improvements and renewable energy projects through local, state, and federal government programs than ever before. Knowing where to find these financial assistance programs will help you get the help you need to turn your business into a green business.
The American Recovery and Reinvestment Act (known as the Recovery Act) has infused billions of dollars into local governments to help businesses and consumers improve the energy performance of their buildings. The package allots $3.1 billion to state governments and another $3.2 billion to local governments. This money will be spent by these government agencies to spur energy efficiency upgrades to buildings, renewable energy development, and other energy-related projects. They offer a great way for your business to green-up your reputation, save money on energy, and help the environment.
The premiere source for all renewable energy and energy efficiency financial aid programs throughout the country—including those is the Database of State Incentives for Renewables & Efficiency, which allows you to search on maps, through categories, and by keyword. It is the most comprehensive and up to day, but here are some additional resources you can use to find the tax incentives and tax breaks available for commercial businesses:
- Business.gov Federal Tax Credits for Energy Efficiency: http://www.business.gov/expand/green-business/energy-efficiency/get-started/tax-credits.html
- Business.gov State and Local Energy Efficiency Programs: http://www.business.gov/expand/green-business/energy-efficiency/state-local/
- ENERGY STAR New Commercial Tax Incentives Summary: http://www.energystar.gov/ia/business/comm_bldg_tax_incentives.pdf
- Alliance to Save Energy’s Energy Efficiency Tax Incentives Fact Sheet: http://ase.org/content/article/detail/2862
- EnergyTaxIncentives.org’s Tax Incentives Assistance Project (TIAP) for Businesses: http://energytaxincentives.org/business/
Each program has its own unique system for qualifying and applying for the government funding, so once you’ve found a program that fits well with your business, follow the instructions you find there for going through the process.
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